Tribelife provides specialist wealth protection advice in 5 key areas:
1.Personal Risk Insurance AdviceHelping families to protect their assets & income from the uncertainties created by premature death or disablement of the primary income earner or family member. This can be in the form of Life, Disablement, Critical Illness/Trauma and Income Protection Insurances.
Insurance ProductsLife Cover - This type of insurance provides a lump sum payment to a beneficiary, third party or an Estate in the event of your death. It would also be normal for all or part of the benefit to be paid should you be diagnosed as terminally ill.
Total & Permanent Disablement - This type of insurance provides a lump sum payment if you become totally & permanently disabled. The meaning of total & permanent disability is defined in each policy document. Some occupations have an option as to which meaning of total & permanent disability can be insured. The benefit is normally provided as an advance payment of a death benefit or on a stand-alone basis.
Trauma - This type of insurance provides a lump sum payment in the event of you being diagnosed with one of a specified range of critical illness or injuries. The list of conditions covered is often optional, and varies between companies, as do the definitions of those conditions. The benefit can be provided as either an advance payment of a death benefit or on a stand-alone basis.
Income Protection - This type of insurance provides you with a regular source of income should you be unable to work for a period due to sickness or injury. You can generally insure for up to 75% of your normal income and there are a number of options available relating to waiting periods and benefit periods.
3 Strategies to ensure Premiums are affordable now and in the futureClaims history has proven to us that when you most need insurance cover (ages 40 to 55) the cost of insurance can sometimes be too expensive to keep.
At tribelife we use 3 strategies to ensure premiums are affordable now and into the future when you need the insurance cover the most.
1. Lock in Premiums – Typically insurance premiums rates increase annually with age. But what if you could control the cost of insurance. By taking a Level premium policy the premiums do not change for the entire duration of the policy. Level premium cover provides a greater long term saving and in many cases you can save you up to 50% of the total amount of insurance cover paid over your life time.
2. Pay Insurance Premiums through super – Here’s an idea to reduce out of pocket expenses to get and keep your insurance cover in place. When times are tough, most people look closely at their budgets. To help ease the burden of the cost of insurance you can pay the premiums through your superannuation fund.
3. Get the Government to pay your premiums – By utilizing the government co-contribution scheme, you could be entitled to a government co-contribution which can essentially pay your insurance premium through your superannuation fund.
2. Business Insurance AdviceHelping small to medium size businesses with succession planning in respect to the protection of key directors / employees (Keyman Insurance) and also providing a cost effective funding solution in the event of the unexpected death or disablement of one of the key directors (Buy / Sell Insurance).
Business Insurance AdviceThe Problem:
Without a business succession plan, your family and your business associates could be exposed to unnecessary financial risk.
If the unthinkable did happen ask yourself these 5 questions:
1. Would any ownership succession be orderly, equitable and be funded quickly.
2. Would you or your family receive adequate payment for the transfer of your interest in the business.
3. Would the valuation of your business be maintained.
4. Would you have sufficient financial resources to protect your income and family lifestyle.
5. Would you have to use personal assets, such as your home to provide security to borrow money to fund an exiting business partner.
Business Insurance can provide the business owners with enough cash so they can:
- Fund a Buy / Sell agreement documenting an agreed price.
- Ensure the exiting owner and or family receive fair value for their interest.
- Guarantee the orderly, equitable and certain transfer of ownership.
- Maintain control of the business.
Borrow the cash – Borrowing the cash to fund the purchase price is an option many businesses could consider, but lenders may not be prepared to extend credit and you may not want to or be able to provide the security for additional lending.
3. Superannuation AdviceHelping young, middle age and pre-retiree clients ensure their superannuation working as effectively as possible. This may include consolidating superannuation funds into the one fund, ensuring the investment strategy is aligned to clients’ risk profiles and determining if there is a more appropriate fund that the client’s current fund.
3 reasons to let us invest your superannuation benefitsAt tribelife we offer our clients a superannuation product that provides us with an easy way to plan and manage your superannuation solution. Our preferred superannuation product provides you with 3 key benefits:
1. Access to leading investment managers – Some of the manager are, AllianceBernstein, BlackRock AM, BlackRock IM, Colonial First State, Capital International, Macquarie, Perennial, Perpetual, Aviva Investors, Vanguard, Adam Smith, Antares Fixed Income.
2. Protecting your wealth – We are able to structure your Life, TPD & Income Protection insurance via your superannuation fund.
3. Online Access – You are able to view your superannuation portfolio 24/7 online via a secure login.